Ethereum Whales Transfer Large Amounts of ETH to Exchanges, Raising Concerns of Market Selloff

Significant Movements by Ethereum Whales

Details of Ethereum ICO Whale’s Transfer to Kraken

A major Ethereum whale associated with the 2015 initial coin offering (ICO) recently made a substantial transaction after being dormant for three months. This whale, known as “0xb8c,” transferred 8,510 ETH, valued at $22.15 million, to Kraken. Despite this transfer, the whale still holds a massive 130,000 ETH, worth approximately $343 million spread across multiple wallets.

Genesis Creditor’s ETH Transfer to FalconX

Another whale, tied to Genesis Trading’s bankruptcy distribution, has been active over the past three days. This whale, with the address “0x999,” moved 12,100 ETH, amounting to $31.45 million, to FalconX, a prominent institutional crypto exchange. Despite the recent sale, the whale still maintains control over about 155,000 ETH, valued at $406 million.

Recent Transactions of an Ethereum Whale to Kraken

Before a sharp decline in Ethereum prices, another whale moved 5,500 ETH, worth $19.3 million, to Kraken. This whale had acquired 150,000 ETH during the 2015 ICO, at a price of $0.31 per ETH, resulting in a significant increase in the value of the tokens. With holdings of around 139,000 ETH, valued at $476 million, questions arise about potential future liquidations.

Disclaimer

This article provides information and should not be taken as financial advice. The opinions expressed are those of the author and not necessarily reflective of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic does not assume responsibility for any financial losses.